Gold just keeps rising

Gold continues rising as the stock markets keep their bearish momentum around the globe. In the United States, the Dow Jones, the S&P500 and the Nasdaq had one of their worst trading sessions since May. Gold rises 0.12% and reaches the 1287 Dollars per ounce, getting closer to the 1290 Dollars as shown on the daily chart. Tensions between North Korea and the United States keep mounting, pressuring the equities markets to the downside, while the Dollar tries to go back to its bearish trend, supporting the prices of gold due to their inverse correlation. In case gold continues rallying, then the 1290 level could act as resistance, but a better resistance could be the zone between the 1295 level and the 1300 level as mentioned on previous posts. In case of a pullback, the 1274 level could act as support since it had already acted as resistance in the past. Below the 1274 level, its next support level could be the 200 week EMA around the 1254 level.